Characterizing Taste Change in a Model of U.S. Meat Demand: Correcting for Spurious Regression and Measurement Errors

X. M. Gao and J Shonkwiler

Review of Agricultural Economics, 1993, vol. 15, issue 2, 313-324

Abstract: Taste or preferences comprise an unobservable latent variable in utility and demand functions. This latent variable can be estimated by using its indicator and cause variables in a structural equation model. Empirical results show that taste changes have been a significant factor in explaining both declining beef and increasing poultry per capita consumption.

Date: 1993
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